Coca-Cola Director's $8.1 Million Buy

Herbert A. Allen's firm bought 152,000 shares of the beverage giant.

SHARES OF COCA-COLA (ticker: KO) slumped after the company announced it would be buying part of its largest bottler. But at least one savvy insider has taken the decline as a chance to stock up on $8.1 million in Coca-Cola shares.

Herbert A. Allen, a director at Coca-Cola, bought 152,080 shares for an average...